Handelsbanken Fonder AB trimmed its position in shares of MetLife, Inc. (NYSE:MET – Free Report) by 24.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,878 shares of the financial services provider’s stock after selling 27,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in MetLife were worth $7,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of MET. City Holding Co. increased its holdings in MetLife by 4.7% during the second quarter. City Holding Co. now owns 8,371 shares of the financial services provider’s stock valued at $708,000 after buying an additional 375 shares during the last quarter. Everpar Advisors LLC purchased a new position in shares of MetLife during the 2nd quarter worth $243,000. Valeo Financial Advisors LLC boosted its stake in shares of MetLife by 11.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 9,114 shares of the financial services provider’s stock worth $771,000 after acquiring an additional 921 shares during the last quarter. Worth Asset Management LLC grew its position in shares of MetLife by 3.1% during the 2nd quarter. Worth Asset Management LLC now owns 4,551 shares of the financial services provider’s stock valued at $385,000 after acquiring an additional 138 shares during the period. Finally, Chesley Taft & Associates LLC increased its stake in shares of MetLife by 9.1% in the 2nd quarter. Chesley Taft & Associates LLC now owns 26,392 shares of the financial services provider’s stock worth $2,233,000 after purchasing an additional 2,202 shares in the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.
MetLife Price Performance
NYSE:MET opened at $97.57 on Friday. The business’s 50-day simple moving average is $91.52 and its two-hundred day simple moving average is $81.55. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $100.93. The stock has a market cap of $62.78 billion, a PE ratio of 18.69, a P/E/G ratio of 0.75 and a beta of 0.78. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52.
MetLife Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be issued a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s payout ratio is 45.40%.
MetLife announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on MET. Atlantic Securities set a $103.00 target price on MetLife in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods raised their price objective on MetLife from $105.00 to $108.00 and gave the stock an “outperform” rating in a research note on Tuesday. Jefferies Financial Group lifted their price objective on MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. boosted their price objective on MetLife from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Wall Street Zen cut shares of MetLife from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.07.
View Our Latest Report on MetLife
MetLife Company Profile
MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.
In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.
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